MDM for Companies on the Go
Purisma on Tuesday made available version 2.0 of what used to be called the Purisma Customer Registry, now renamed the Purisma Data Hub. Purisma choose to center version 2.0 on improving Data Hub's data accuracy and time to implement.
The big enhancement is a continuous learning system for matching data that "conventional lowest-denominator MDM solutions strip out from multiple data sources in order to impose uniformity," says Bob Hagenau, vice president of products at Purisma. Data Hub accumulates data from across enterprise systems, creates a superset of identity recognition information, retains and links all data from the source system, and continues to learn from reference authorities, such as Dun & Bradstreet, and from data stewardship activities.
An expandable data model will enable companies to start with a small master record and expand it as needed. This "solutions driven approach" will allow Purisma customers to implement an MDM project to solve a specific problem, but also keep the project manageable so it can be implemented in months, according to Hagenau. "Prior to Purisma Data Hub, our customers were forced to choose between two options: deploy a lengthy master data management solution as an enterprisewide initiative, or implement a short term fix to a business challenge that delivers neither the accuracy nor the long term benefit of MDM," says Pete Daffern, CEO and chairman of Purisma. "Now we're delivering the combination of accuracy, speed, and ease of use to help customers get their data right in three to four months, not three to four years."
The system also now offers lifecycle data management. From a single user interface, a data steward can load, update, analyze, view, and correct data. Among the ease-of-use features in Data Hub are new deployable interfaces for various transactional, analytic, data warehouse, and other applications. The interfaces, used to implement Web services and account search and validation, accelerate time to value for new projects.
Problems like regulatory compliance and creating competitive differentiation via improved customer relations and operational efficiency are just some of the payoffs for companies who implement and leverage MDM solution properly, says John Radcliffe, research vice president at Gartner. "Enterprises have been plagued by inconsistent data arising from multiple data systems, but today's business challenges are compelling more and more Fortune 1000 companies to deploy MDM and CDI solutions." Radcliffe says solutions like these also solve the reoccurring problem of defining the customer within the enterprise. "Organizations can eliminate the endless debates about which departments' data is right, and instead make better business decisions based on a single version of the truth."
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